Myanmar and Japan singed four Official Development Assistance (ODA) loan agreements worth about US$1.1 billion (120.915 billion yen, or 1.61 trillion kyats) on 21st January with the aim to fund sewerage, urban development, power distribution and infrastructure improvement projects in seven regions and states in Myanmar.

The four agreements were signed by U Maung Maung Win, Myanmar’s deputy minister for planning, finance and industry and Japanese Ambassador Maruyama Ichiro in Nay Pyi Taw.

About 45.9 billion yen will go towards developing Yangon’s sewerage system. The funds will be used to renovate and expand wastewater treatment plants, lay sewer pipes and improve living standards in the central business district of Yangon.

An estimated 24.085 billion yen will go towards an urban development project to reduce traffic congestion and repair damage caused by flooding in Yangon. The project will improve about one-third of the region’s main drainage channels and introduce measures to reduce congestion and improve safety on Yangon’s main roads. It will also reduce traffic congestion at level crossings where main roads intersect with the Yangon Circular Railway.
About 12.288 billion yen will be provided for a power distribution improvement project, which aims to repair and expand the electricity distribution network to improve the power supply in Yangon and Mandalay.

An estimated 38.642 billion yen will be provided for construction, renovation and installation of basic infrastructure such as roads, bridges, and power and water supply in rural areas of Chin, Rakhine, Mon and Kayin states and in Tanintharyi Region. A total of 70 sub-projects (35 road/bridge projects; 25 electricity projects and 10 water supply projects) will be implemented in the states and region, the embassy said.

Source: The Irrawaddy